! Required information CC2-1 (Static) Accounting for the Establishment of a Business [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $80,000 cash when issuing 8,000 new common shares. b. Purchased land by paying $2,000 cash and signing a note payable for $7,000 due in three years. c. Hired a new aesthetician for a salary of $1,000 a month, starting next month. d. NGS purchased a company car for $18,000 cash (list price of $21,000) to assist in running errands for the business. e. Bought and received $1,000 in supplies for the spa on credit. f. Paid $350 of the amount owed in (e). g. Nicole sold 100 of her own personal shares to Raea Gooding for $300 CC2-1 (Static) Part 4 4. Calculate the current ratio at April 30. Numerator Denominator Current Ratio H

Why Does It Matter? ECOTOUR EXPEDITIONS, INC., Jamestown, Rhode Island You probably have never imagined the possibility of being an accountant who could have a direct impact on improving global ecosystems. Accountants who work for Ecotour Expeditions, Inc., an ecotourism company, might manage accounting details for guest air travel and accommodations, tour guide compensation, expedition revenue, and a variety of expenses. What type of accounting transactions would Ecotour Expeditions have? List 3 to 4 transactions and then record the journal entry for each transaction. Example: Purchase safari jeep with cash, 42,500. Safari Jeep42,500 Cash42,500

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Eric is going to set up sole trader business as Decorator. he knows that he will be responsible for his business' s debts and some accounting responsibilities , however , he does not know about steps for starting a business. Required:  in 500 words provide steps for starting a new small business.

What Would You Say? A friend of yours wants to start her own pet-sitting business. She already has a business license that is required in her city. She has had a personal checking account for years. You have told her that she also needs to open a separate account for her business needs, but she does not understand why she needs to have two separate accounts. Explain to her why she should have a business account separate from her personal account. Use some of the language of business you have learned in your texts Introduction and in this chapter.

Create notes a financial proposal to seek funding for your new uber business venture in st.kitts and nevis. 1. Business Market – Size of the market, the competition, channels of distribution

subject: principle of accounting  Question no 1: Salim and Rashid want to start a Furniture shop at Sohar. How can you help them by explaining different forms of business and its benefits and limitations?

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Required Information [The following information applies to the questions displayed below.] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $94,000 cash when issuing 9,400 new common shares. b. Purchased land by paying $6,500 cash and signing a note payable for $10,500 due in three years. c. Hired a new aesthetician for a salary of $2,400 a month, starting next month. d. NGS purchased a company car for $32,000 cash (list price of $35.000) to assist in running errands for the business. e. Bought and received $850 in supplies for the spa on credit. f. Paid $210 of the amount owed in (e). g. Nicole sold 100 of her own personal shares to Raea Gooding for $900. 3. Prepare a classified balance sheet at April 30 using the information given in the transactions. Include Retained Earnings with a zero balance. NICOLE'S GETAWAY SPA…

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